The famous golden arch is recognized not only as an icon of fast food, but also as an icon of innovation all over the world. McDonald’s, the world’s largest restaurant chain, was an early pioneer in technology-driven innovation, from drive-throughs to self-service kiosks. Today, it is paving the way for the fast food metaverse and beyond.
In 2014, the company developed its own digital information team to launch the latest digital proliferation. The team has since grown from just three to over 130 members. Their job was to introduce technology to overcome the challenges of restaurant meals, drive-through services, and home (or other) delivery.
To achieve these goals, we are deploying a number of innovative artificial intelligence (AI), analytics, and Internet of Things (IoT) use cases. We are also investing a large amount of money in re-skilling business fields where we can demonstrate our unique human power, away from operations that are easy to automate, such as receiving orders.
McDonald’s began servicing customers with drive-through windows in 1976, and by the early 1980s, this fast, low-friction sales channel accounted for 50% of sales. During the pandemic, this increased to about 70 percent. Even today, it’s still a very popular way to get customers’ beloved burgers and french fries, and along with delivery, they’ve been able to keep their bottom line relatively stable in the event of a pandemic.
In 2019, we acquired Israeli AI startup Dynamic Yield for $ 300 million. It aims to incorporate technology into every aspect of customer service operations. That same year, it also acquired Apprente, another AI startup that specializes in voice technology.
Since then, McDonald’s has implemented AI-driven speech recognition ordering systems in some restaurants, accepting orders using synthetic human speech and natural language processing algorithms.This says it made it possible to shave Almost 1 minute From the total time it takes the average customer to receive an order. In 2021, McDonald’s was able to sell the technology it developed for automatic voice-based ordering systems. To IBMGenerate more income for the restaurant giant.
Another initiative was to use image recognition algorithms to scan license plates to predict what customers are likely to order based on the opportunities the vehicle has previously visited.
Inside the restaurant, we also tried a dynamic menu board that uses AI to adjust the items offered in real time based on time of day, weather, popular orders, and restaurant congestion. Former CEO Steve Easterbrook told investors that the technology has succeeded in increasing the average order size for the entire restaurant.
Of course, much of the topic in the fast food industry today is about app-based orders. Like most global chains, McDonald’s has apps that you can use to order food through all distribution channels, including restaurants, deliveries, and takeaways (depending on where you are in the world). The app uses predictive and recommended algorithms to determine what customers are most likely to want to buy and place it prominently on the screen. These recommendations are based on previous orders, global, national and regional trends, and weather. The app also allows McDonald’s to collect a lot of data about who the customer is and how the customer spends time and money (with the customer’s permission). This allows restaurant chains to further tailor their products and services to their needs.
Metaverse is a term used to describe a “next level” virtual platform where users interact with each other and with brands like McDonald’s in an immersive, permanent environment. Many global brands see it as the next big thing in both marketing and customer experience, and McDonald’s is no exception.
The chain has filed a patent application indicating that it is developing a “virtual restaurant.” As we spend more time online, McDonald’s logs in to the virtual reality (VR) equivalent, much like a teenager hangs out at a hamburger restaurant today and tomorrow. I’m sure I can talk with my friends for entertainment. Order the delivery of food and drink to their home as well as the environment.
We also plan to sell virtual products. It may take the form of branded clothing and other items that can be used to decorate avatars and customer virtual homes in the Metaverse.
And the patent application reveals that it is also interested in development. NFT This allows you to create unique, limited edition, or unique digital items for the Metaverse, and may be interested in creating collectibles and personalized promotional items. To celebrate the return of the popular McRib to the menu in November 2021, we have already created and launched such an NFT.This is itself Internet meme!!
The third area where McDonald’s is deploying AI etc. Fourth Industrial Revolution Technology is increasing efficiency within your internal operations and supply chain.
Recognized for launching the Digital Transformation Initiative, Easterbrook said the ultimate goal is to connect all AI, data and analytics systems to create an end-to-end intelligent business. ..
“Once we start linking the predictive nature of customer demand across restaurant and kitchen inventory levels, we can undo it throughout the supply chain,” he said.
As a result, the company has a wide range of consumer behavior, including increased demand for meat-free or healthier menu options and the impact of global issues such as the continued disruption of food distribution caused by Covid. You will be able to predict more accurate trends. 19 Pandemic or Russian invasion of Ukraine.